Velocity Replaces Drift After the 285 Million Dollar Hack: What Changes for Investors in Germany

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.The Solana perp DEX Drift is back as Velocity, and since September 29, 2026 a new team has been running it. What the overhaul after the outflow of 285 million dollars means for your deposits, for settlement in USDT and for the legal position in Germany.The perpetuals venue Drift on Solana has been called Velocity since its relaunch, and since September 29, 2026 a different team has been running it. Co-founder Cindy Leow has stepped back from her role, five months after attackers pulled around 285 million dollars out of the exchange's vaults on April 1. For you this is more than a change of name: trading is now settled in USDT instead of USDC, several functions have disappeared, and there is still no MiCA authorization for the German market. A perp DEX is a decentralized exchange for open-ended futures contracts where you bet on price moves with leverage without owning the coin itself. The money does not sit with a bank; it sits in smart contracts, the so-called vaults. Those vau...